On 13 July 2012, the Bank of Indonesia issued regulation 14/8/PBI/2012 regulating share ownership of commercial banks.The new provisions introduce foreign ownership caps on banks of 40% (art. 2(2)a of the regulation), unless a number of conditions are met. These include getting a special approval from the Bank of Indonesia, the bank having to offer at least 20% of its ownership to the public within 5 years after the takeover amongst other conditions.Furthermore, article 5(2) of the regulation requires foreigner or foreign companies to:

'a. be committed to supporting the development of the Indonesian economy through the owned bank;

b. obtain a recommendation from the supervisory authority of the country of origin, in the case of a legal financial entity; and